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continuing coverage of your markets, all your post-close news and, of course, what is going on in newtown, concome our hearts and prayers go out to all those people affected by that. "closing bell" is next. >> i'm bill griffith. welcome to "closing bell." maria will be along here in a few minutes at the new york stock exchange, and we add our sentiments as we continue to update you on the horrific massacre at the connecticut elementary school. our deepest prayers and sympathies to all of the families and others hit by this senseless tragedy. the horror of the story may have muted trading on wall street today, as all priorities are being rearranged in a moment, and we will get you caught up on these markets in just a moment, but first we want to let you know. president obama is set to make a statement on this tragedy from the white house around 3:15 eastern. our john harwood is in washington with some more details on what we know right now. john? >> reporter: well, bill, the horror of this tragedy is also muted talk of anything else in washington for the day, including the fiscal cliff and
to the "kudlow report." i am larry kudlow. one week after the devastating school shooting in newtown, connecticut, left 26 people dead, the national rifle association is breaking its silence. the gun rights group is calling on congress to put armed guards at every school. it's a very interesting development. actually, we could bring in -- let's go right to nbc's danielle lee. she's going to join us with the nra details. good evening, danielle. >> reporter: larry, good evening. after a week long talk about gun control and protecting our children, the situation isn't fewer guns, but more of them on camp campus. the nra's leader blamed the media for a culture of violence. and also accused the country of failing to protect our children by not putting police on every campus with guns. >> the only thing that stops a bad guy with a gun is a good guy with a gun. >> even supporters of the nra called the organization out of touch with america. lawmakers and top educators fired back. they say any solution also needs to include gun control and mental health care. >> i don't believe that the only way to stop
latest survey and president obama spoke at an evening vigil in the community of newtown, connecticut, raising the prospect of policy changes to stem gun violence. it is monday, december 17th, 2012 and "squawk box" begins right now. >>> good morning, everyone. welcome to "squawk box" here on cnbc. i'm becky quick along with joe kernen and andrew ross sorkin. let's take a look at our lineup today. first off, bob doll will be giving us his lineup for stocks. that's coming up at 7:00 a.m. eastern time. at 8:00 eastern, a cnbc exclusive. david tepper, one of the world's top performing hedge fund managers will join us to give us some of his wisdom in a kaerc t can't-miss interview. a lot to talk about with him. in the meantime, why don't we get to some of today's top stories. we could see some movement in the fiscal cliff negotiations. house speaker boehner offering to raise the top tax rates on those making over $1 million a year as well as other measures amounting to $1 trillion in new revenue. that's in exchange for an equal amount in spending cuts. the white house has not
have a newtown, connecticut facility. >> we do. we have about 400 associate there is and it really has been traumatic. last night we had a memorial service, 3,500 local people game from newtown, from danbury. it is a tragedy. many of our associates live in newtown, we have a major facility there and it just shows the fragility of life and i can speak as a parent that if you lose a child, nothing else matters. >> now, if someone wants to help, was there an organization that you would recommend that people help? >> they have set up a special section in the united way in danbury. and if you connect the united way danbury, they have an area where you can send funds and they're doing a lot of good work. >> okay. now your company itself has been pretty socially responsible. an issue that i thought was important is fuel, the footprint that your company has and how important this is to you. zero fuel now you use? >> it really is. it's a remarkable situation that we have, you know, we are an integrated company. we have operations in vermont and vermont can go minus 14 in winter and this year we
. but later on in the week, housing numbers final q3 gdp. keeping a close eye on newtown, connecticut, our hearts and prayers going out to the victims there. remembering those who lost their lives at sandy hook elementary in newtown. >>> a moment of silence observed at the new york stock exchange. in remembrance of those who lost their lives in the newtown, connecticut, shootings. ♪ [ male announcer ] you build a reputation by not breaking down. consider the silverado 1500 -- still the most dependable, longest-lasting full-size pickups on the road. and now we've also been recognized for lowest total cost of ownership -- based on important things, like depreciation, fuel, and maintenance costs. and now trade up to get a 2012 chevy silverado all-star edition with a total value of $9,000. from outstanding value to standing the test of time, chevy runs deep. >>> time for the "mad dash" on a monday morning. apple gets an inordinate amount of attention. but it's not the sole source of pain. >> no. i'll tell you something, carl, we used to try to figure out who is in the apple device. tear it d
selling its investment in gunmaker freedom group in light of last week's school shooting in newtown, connecticut. it did have a stake in freedom group. it has invested $751.4 million as of the end of march. cerberus acquired bushmaster last year. and my column today focuses on the number of private equity firms that have major stakes in gunmakers. colt, by the way, is another that is one of them. mid ocean owns a piece of bushnell. doesn't make guns, makes everything but the gun itself. >> what do you mean, the components? >> if you want a 25 round magazine loader, they have it. if you want a military grade night vision, they have it. if you need laser guided things, that's what they make. >> but if you look at the numbers, the sales of a lot of these gunmakers, freedom group in particular have been rising sharply. and, you know, the day after -- >> and the automatic rifle, that's where the growth is coming from. >> absolutely. the day after president obama was elected, you saw a sharp jump in sales. >> i should say as of last night when i was working on this piece, there was a a br
their lives in the sandy hook elementary school shootings in newtown, connecticut. to the best vacation spot on earth. (all) the gulf! it doesn't matter which of our great states folks visit. mississippi, alabama, louisiana or florida, they're gonna love it. shaul, your alabama hospitality is incredible. thanks, karen. love your mississippi outdoors. i vote for your florida beaches, dawn. bill, this louisiana seafood is delicious. we're having such a great year on the gulf, we've decided to put aside our rivalry. now is the perfect time to visit anyone of our states. the beaches and waters couldn't be more beautiful. take a boat ride, go fishing or just lay in the sun. we've got coastline to explore and wildlife to photograph. and there's world class dining with our world famous seafood. so for a great vacation this year, come to the gulf. its all fabulous but i give florida the edge. right after mississippi. you mean alabama. say louisiana or there's no dessert. this invitation is brought to you by bp and all of us who call the gulf home. can i still ship a gift in time for christmas? yeah,
in newtown, concould. police briefed the media giving the latest information, and here's what we know so far. 26 total victims, 20 of them young children. civics them were adults in the shooting that happened around 9:30 this morning. investigators say that a gunman came to the sandy hook elementary school here in newtown. he entered. he went to a classroom that nbc news has learned was taught by his mother. she was a kindergarten teacher here. it's believed that the gunman killed his mother and the children in her classroom. police say they continue to investigate. they are processing the scene right now. they are also going to court to get search warrants to execute them in various locations, of course, trying to answer the big question whenever something like this happens why? why did this happen? investigators don't even venture a guess of how long they will be processing the scene, the school which was just a short ways from here. they say they are going through it meticulously to try and figure out exactly what happened minute by minute and try to figure out exactly why this happened.
on that shooting at the sandy hook elementary school in newtown, connecticut. nbc news is reporting as many as 27 people may be dead from that shooting which broke out this morning shortly after 9:30. that's when police were called. as many as 17 to 18 of the victims are children. 7 to 8 adults including the gunman who authorities described to nbc news as a 20-year-old connecticut man who was dressed in black and was carrying two handguns. connecticut state police are set to begin a briefing at this hour. danbury officials and hospital officials tell nbc news that at least three people have been transported to the hospital. again, to as many as 27 people killed. we will bring you more details as they become available. back to you. >> thank you very much, bertha. we'll keep checking back with you and monitoring the situation. obviously an incredibly tragic situation still unfolding in newtown, connecticut. we will keep you up to date as new information does become available, but right now we turn our attention to what we do here at cnbc. our focus is the markets. we will be following the other sto
in newtown, connecticut. >> yep. >> we're all hugging our children a little more tightly this season. >> and everything's on the table. >> as an outdoorsman, i think we need to completely rethink guns in america. >> i think we need to protect our kids at the school, though. everything's on the table. >> our thoughts and prayers are with the families in newtown. >> thank you both very much. right now it's time for "squawk on the street." good morning. welcome to "squawk on the street." which debuted on cnbc's seven years ago today. happy anniversary to us. i'm melissa lee with carl and jim cramer and david faber live from the new york stock exchange. let's look at how we're setting up after yesterday's rally. particular strength in yesterday's rally. we didn't get housing starts, that's earlier today. as for the picture in europe, really the stand outout here is the euro. greece getting a five notch upgrade at the s&p. our road map this morning starts with gm. government motors no more. the treasury to exit its stake in the next 12 to 18 months, purchasing 2 million shares by the end
laws? >> you know, david, i think anybody who was up in newtown who talked to the parents, who talked to the families, understands that something fundamental in america has to change. and all of us have to do some soul serving, including me as president, that we allow a situation in which 20 precious, small children are getting gunned down in a classroom and i've been very clear that, you know, an assault rifle ban, banning these high capacity clips, background checks, that they're a set of issues that i have historically supported and will continue to support. >> but can you get it done? >> so the question is are we going to be able to have a national conversation and move something through congress? i'd like to get it done in the first year. i will put forward a very specific proposal based on the recommendations that joe biden's task force is putting together. >> but it's not going to work. it didn't work before, it's not going to work now. >> my response is something has to work. it is not enough for us to say this is too hard, so we're not going to try. so what i intend to do is
newtown, connecticut, school shooting. let's go live to jay gray. he has the latest developments on this horrific story. >> reporter: hey there, maria. every day here brings a more difficult task. today providing the toughest. this grieving community gathering to say the first two of 26 emotional good-byes. two 6-year-old boys laid to rest today. their friends and family gathering to say those good-byes. that as the investigation continues as well. and we're learning more from police about what exactly they're looking for and what they found. they say they have a wealth of evidence that's been recovered. not only from the lanza home but also the school here. they also warn that the school will likely remain a crime scene for several months. that this investigation is going to take quite some time. that they have more than 100 witnesses to interview. that includes some of the young children who survived the massacre at sandy hook elementary. of course they're being very patient with those children. waiting until the time is right. and say they will only talk to them, only ask them
. >> founder and ceo of meredith whitney advisory group. >> want to update you on the tragedy in newtown tragedy. danielle lee back with the very latest. >> reporter: good afternoon. students returned to their classroom today aside from those attending sandy hook elementary, and when they did they were greeted by increased security and counselors on hand in case students needed to process. one parent said it was harder to send her son back to class and she believes this is a necessary part of the healing process for these students, but as all of that happens, as the students return to class just up the way behind me is a memorial still filled with lots of people, crowds of people struggling to move on. there were two more funerals today, and right now a wake is under way for that teacher that we've heard so much about, vicki soto works died trying to protect her children. the school, sandy hook, is still indefinitely closed while police investigating, even a nearby town says they can have another school red the for those students by tomorrow. the district has not decided when they will b
the money behind the newtown massacre story. dan, let's talk a little bit about this. how do you react to the idea cerberus is now, in light of this, going to sell the company they so meticulously put together. it's not as though people didn't know that they were in the weapons business here all along. now they are saying we want to be out of it because we don't want to be part of the debate or they think the heat on them is going to become too great. >> i think it's the heat not part of the debate. they owned freedom group when freedom group had paid lobbyists in d.c. working on gun issues. that's not directly cerberus but clearly that makes them part of the policy debate. this is partially a pressure thing. cerberus gets a lot of money from big institutions, teachers pensions, et cetera. they can't directly say to cerberus you guys have to sell. they can say, look, if you don't do something about this, we might not be there the next time you go to raise a fund. >> you point out in one of your articles from last week that the retirement system there invested $500 million into a $7.5 b
the bushmaster rifle used by the shooter. all dpuns have been removed from stores near newtown. a lot of debate about the degree to which private equity has inserted itself into the debate. some investors may be rethinking their position on investing in companies like freedom, and certainly you read the statement from service -- >> it's straightforward. very interesting story. if you get a change in heart on the part of the pension funds that make up so much of the funds for private equity, not to mention, by the way, hedge funds and other investors out there, you could see some ramifications. this certainly may be one of them right here. the company saying as a result of the sandy hook tragedy, which they call a watershed event, that has raised the national debate on gun control at an unprecedented level, they have determined to engage in a process to a southern investment to freedom group. largest manufacturer of guns in the country. 15% of sales roughly to walmart, and about 3,000 employees, $237 million in sales as of the third quarter that ended september. just to put it in perspective for
to the pete of newtown, connecticut, a town shattered by friday's shooting and elementary school. 26 people were killed, including 20 children, before the gunman killed himself. speaking at the service, the president noted this was the fourth time he's had to console a community during his time in office. and he demanded changes in the way the u.s. deals with gun violence. >> we will be told that the causes of such violence are complex. and that is true. no single law, no set of laws can eliminate evil from the world or prevent every senseless act of violence in our society. but that can't be an excuse for ip action. surely we can do better than this. >> the president says he will meet with a group of law enforcement parents and teachers in an effort to prevent future tragedies. several democratic lawmakers are now calling for a new push on tougher u.s. gun laws, including a ban on military-style assault weapons. >>> we'll take a short break. still to come, why china's new leaders see a future where economic growth isn't driven so much by exports. we'll have the latest. i always wait until
of the newtown connecticut tragedy. we love the way you all have been strong in support of them. >> thank you. i very much appreciate that. michael, let me ask you, what do you want to be avoiding in 2013? >> i think you have to look at it from the standpoint of extreme. it's clearly in the bond market. it's clearly in the love for dividends. it's clearly in the love for income versus capital appreciation, versus cycle kral. i call this the rocky balboa stock market. we've had tremendous swings from the bears. you cannot deny the resilience, best year since '09. how is it comparatively smaller fiscal cliff going to do it? >> he does have a point. the relative strength of this market this year has been impressive given all the headwinds that this market has. >> it's been macho ka macho. that's the fighter who just passed away in puerto rico. it has taken blows like you can't believe and has hung in there. and the market leads the economy, not the economy leads the market. we remain defensively positioned because of profits, production and personal income. but we do know maybe we need to change th
of the newtown tragedy? it's hard to say. >> but it may be a combination of all of those. we got a sense from the guests we brought on earlier this week, on monday, that it was not a great holiday selling season, as we ended the last day before christmas. and all those may be the reasons, carl. i'm positive i didn't think people really understood the fiscal cliff. i may have been wrong. perhaps it was something that weighed on people's minds. the weather always at issue. it could actually have been warmer weather as well that contributed. we've had some analysts say that because people don't feel they have to go out and buy a coat. >> because it will never get cold again. >> except today, when it's 28 degrees. we'll see how after christmas does. internet also, it doesn't appear as online sales are up as p as anticipated. and perhaps they made up for the loss of the brick and mortar. >> you were pointing out before the show, luxury was not immune to this. you would think it would be more in tune to the consequences a cliff. >> you can take a look at the mid-atlantic and northeast regions, thos
, the fiscal cliff, newtown, connecticut, what happened up there, that's the gem feeling overall. jcpenney, they've had promotions walking away from it every day, low discount price story. oppenheimer noted discount racks had been cleared and the traffic seems to have improved in that store. maybe that change in their philosophy has helped them out. that's a note that was out on oppenheimer today. bottom line here, guys, is i think we are seeing some movement with some companies to deal with some of these retail sales issues. you'll see a lot of pressure on margins. david, i think you mentioned this, about what was going on with inflows and outflows from equity mutual funds. it's true we're continuing to get outflows from equity mutual funds. that's certainly been disappointing. we had it going through up until last week. the end of last week, it was reported the first outflows from treasuries. more specifically, from general bond funds. that's the first time we've seen this in a very, very long time. all right, it was a very small number, something on the order of $1 billion or something
. right before christmas, with, you know, people are sober as a result of newtown, that they're going through these political antics today, it's crazy. >> both sides, harry's going to comment on this. one side says we're compromising more. that's what you just said. the other side says we've compromised more. john, a little whimpering from paul krugman does not make a carping from the left. >> you forgot about huffington post. social security sellout. >> you're carping from the left hasn't been close to the pressure john boehner's been under. i mean, come on. and just from that fact, we need some real outrage from, you know, patty murray, or you know, all the usual suspects before i believe that the president has given up as much as boehner. you take it from here, okay? >> well, john, it's harry wilson. one thing that's really interesting to me, there's been a lot made about the fact that the president's proposal is closer to the clinton era tax rates. but very little has been said about the fact that no one is close to the clinton era spending levels. so, as you know, when you were i
being up. all of a sudden then, we had the impacts of sandy, a tragedy up in newtown, connecticut, and just a lot of other factors that just put a damper on the season. >> so, it is fair to say that it started better than it ended now. >> it started better than it ended. there was a lot of excitement around black friday. i mean it was almost like the super bowl. they have all this advertising, drag people out, it's the biggest event of the year come shopping, and then week after that we had the pro bowl. there was no excitement. there was no reason to come out shopping. so big bang, but it kind of waned as we went into the season. >> how much of the season is in the books now? i mean, what's still left to happen? >> there's a couple of big days still coming. i think this weekend is a big weekend as people redeem gift cards, go into the stores, exchange items for what they're looking for. hopefully get that add-on sale and people start to take advantage of the clearance sale, i would say, though, 95% of it is in the books. we've probably got some strong days ahead of us, though, th
is the ticker on this of course, troubles surrounding the newtown, connecticut, shooting a lot of sellers on that stock during that period of time, today, issuing another $15 billion, expand its buy back program which it just announced with its fiscal second quarter results, announced 20 million share -- $20 million worth of buy backs and expand that to 15. nice gain on the shares. >> >> a big winner for the year. look at that chart. >> all handgunmakers, talking about this before, how ironic you can the obama administration was seen strict irbefore the elections and hand brought forward the dematte manned that might have been in the future, people wanted to bite hand guns. >> always the case. any time the debate over gun control flares up. >> does the framework of the "wall street journal" piece tell us anything new about best buy, sears? >> for sears, we have seen them cut costs, cut costs, sears and the kmart stores. it seems that this year the reckoning, the kmart operation, people have lost track of that if you send people inside kmart today, i think you basically find a relatively h
Search Results 0 to 22 of about 23 (some duplicates have been removed)